The IOC delivered its first assessment after hearing a report from the evaluation committee on the four candidates for the games: Budapest, Rome, Paris and Los Angeles. 

None of the bids showed any significant shortcomings, said IOC spokesman Mark Adams, according to MTI.

The Center for Priority Government Investments said in a statement that the Hungarian organizers learned earlier from unofficial sources about the positive feedback on Budapestʼs bid, and now, based on the IOCʼs official announcement, the capital can proceed in the competition with a real prospect, MTI reported.

The IOC said that Budapest is well suited for the Olympics, according to Balázs Fürjes, government commissioner for the bid.

The bidders will receive detailed feedback from the IOC sometime next week.

The next milestone in the process will come in October, when candidates must submit a second round of documentation. The IOC will decide on the venue of the 2024 Olympic Games in September 2017.